More bad news. More fear.
Oh good, the nightly news will be able to spread more panic.
The panic movement on Wall Street is just beyond me. Especially when I hear people (just regular people) saying they are not only getting out of their mutual funds, they are getting out of their banks!?! Then what?
You can't have it both ways --- if the financial system is going to implode, then mass inflation (etc) is going to make your cash-under-the-mattress as valuable as Confederate Bonds. Grab a wheelbarrow of $20 bills and go by buy some bread.
OR, the financial market will right itself--granted most likely at a lower level, but it will build from there, eh? And if that's the case, you don't want to pull your money out now; you'll miss the recovery.
The rule of thumb is buy low, sell high....but so many people seem hellbent on the opposite.
Calm. Calm. Calm. Be brave and believe in the underlying mechanism.
Pollyanna?
Maybe.
But the alternative is unthinkable.
Monday, September 29, 2008
Thursday, September 18, 2008
Plunge. Plummet. Collapse.
Plunge. Plummet. Collapse.
These are the verbs the media likes to use about the stock market.
Over-hyped. Overwrought. Over-paid.
These are the adjectives I like to use about the media.
What happened to objective journalism? What happened to reporting the facts - the who, what, where, and when? There's way too much "WHY" coming through my TV, radio, web, paper, etc. I don't care about their interpretation of motivation and next steps. I hate when they "report" things such as: "the stock market plunged 100 points as nervous investors left the auto sector in droves."
In the first place, what gives with the characterization of hundreds, thousands or millions of faceless investors as nervous? Maybe some of them were gleeful! Maybe others were morose. WHO CARES!
And, since most "average" people in this country are NOT playing the market on a daily basis, what's with the connection of John Q. Publics angst at the pump and the volatile markets? They show sound bites of some hapless fellow explaining that he can't afford to buy carrots as if that sheds light on the fate of multinational investments.
I don't get it. And I don't get the panic and entitlement that I hear from "average people" about how unfair it is that their 401K is down. Yes, you chose to play the market -- since when does "fair" mean things only go up? Not in this lifetime.
I'm not happy to lose money-on-paper either....trust me. But I just wish we could get away from the frantic, frenetic, and often false depiction and WHY markets move and just stick to the facts.
These are the verbs the media likes to use about the stock market.
Over-hyped. Overwrought. Over-paid.
These are the adjectives I like to use about the media.
What happened to objective journalism? What happened to reporting the facts - the who, what, where, and when? There's way too much "WHY" coming through my TV, radio, web, paper, etc. I don't care about their interpretation of motivation and next steps. I hate when they "report" things such as: "the stock market plunged 100 points as nervous investors left the auto sector in droves."
In the first place, what gives with the characterization of hundreds, thousands or millions of faceless investors as nervous? Maybe some of them were gleeful! Maybe others were morose. WHO CARES!
And, since most "average" people in this country are NOT playing the market on a daily basis, what's with the connection of John Q. Publics angst at the pump and the volatile markets? They show sound bites of some hapless fellow explaining that he can't afford to buy carrots as if that sheds light on the fate of multinational investments.
I don't get it. And I don't get the panic and entitlement that I hear from "average people" about how unfair it is that their 401K is down. Yes, you chose to play the market -- since when does "fair" mean things only go up? Not in this lifetime.
I'm not happy to lose money-on-paper either....trust me. But I just wish we could get away from the frantic, frenetic, and often false depiction and WHY markets move and just stick to the facts.
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